New York City continues to reign as the world’s billionaire capital, housing an impressive 144 billionaires, according to the “Billionaire Census 2024” report by Altrata. The number marks a growth of nine from the previous year, solidifying the city’s position at the top.
Globally, the billionaire population has risen by 4% over the past year, reaching a record 3,323 individuals, with their combined wealth increasing by 9% to $12.1 trillion.
Hong Kong ranks second with 107 billionaires, despite a loss of five compared to 2023. Other prominent cities include San Francisco (87) and London (78), each adding three new billionaires. Moscow completes the top five with 77 billionaires, gaining just one new member.
China’s economic challenges, however, have caused declines in billionaire populations across Beijing, Shenzhen, Hangzhou, and Hong Kong. Meanwhile, Los Angeles capitalized on this shift, adding five billionaires to its roster and climbing to sixth place with 62 residents in the ultra-wealthy club. Beijing, losing two billionaires, now ranks seventh with 60.
India has seen the fastest billionaire growth, with a 15.9% increase. The country is home to 304 billionaires, with 40 residing in Mumbai, highlighting the nation’s rising economic influence.
As the global billionaire population continues to grow, New York remains a symbol of opportunity and wealth accumulation, solidifying its status as the world’s wealth epicenter.